BigBear.ai raises ~$33.2M via warrant exercise; issues new 9M-share warrant at $4.75

BigBear.ai Holdings, Inc.

Exercised outstanding warrant for 13,888,889 shares at $2.39 per share, gross proceeds ~$33.2M.
In consideration, issued new warrant for 9,000,000 shares at $4.75, exercisable from Sept 5, 2024, for 5 years.
Investor is Armistice Capital Master Fund Ltd.; new warrant is unregistered with 9.99% beneficial ownership limit.
Company to file resale registration statement for new warrant shares within 30 days.
Lock-up: no share issuance or registration filings for 30 days post-closing; 60-day ban on variable-rate transactions.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BigBear.ai Holdings, Inc. entered into Warrant Exercise Agreement with an existing accredited investor valued at approximately $33.2 million (effective 2024-03-04).

Action: entry
Agreement: equity purchase
Counterparty: an existing accredited investor
Value: approximately $33.2 million
Effective: 2024-03-04

Exact text from the filing

On March 4, 2024, BigBear.ai Holdings, Inc. (the “Company”) entered into a warrant exercise agreement (the “Warrant Exercise Agreement”) with an existing accredited investor (the “Investor”) to exercise in full an outstanding Common Stock Purchase Warrant

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BigBear.ai Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001193125-24-058263

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